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Chinese Investors Target High-yielding, Low-cost Homes in Dubai
Brief:Chinese visitors spent $258 million in the UAE last year, up 14 per cent from 2011.
Chinese property investors are swapping Shanghai for Dubai as an overheating market at home draws more buyers to the emirate’s cheapest locations.

Rental yields as high as 10 per cent are tempting investors from mainland China to buy into developments such as International City and Discovery Gardens where rents have risen the most.

Foreign property investment by Chinese companies shot up 600 per cent last year to US$5.6 billion, according to research from Savills China.

Chinese visitors spent $258 million in the UAE last year, up 14 per cent from 2011, according to Visa. In the first seven months of the year, Abu Dhabi received almost 24,000 guests from China – an increase of more than a third on the previous year.

In China, new home prices in the country’s four major cities in August rose the most since January 2011, with Guangzhou prices soaring by as much as 19 per cent, according to data from the country’s National Bureau of Statistics. Home prices in Shanghai and Beijing gained about 15 per cent from a year earlier.

While Dubai recorded even bigger gains than that in some locations over the same period, strong investment yields from a rapidly rising rental market has encouraged a flood of overseas money into the market.

The National

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